Total assets are included in the statement of owner's equity.

Name: Total assets are included in the statement of owner's equity.
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Quizplus · Accepted Answer

Total assets are not included in the statement of owner's equity. The statement of owner's equity shows changes in the owner's capital account over a period of time, including contributions, withdrawals, and net income or loss. It is a separate financial statement from the balance sheet, which shows the company's assets, liabilities, and equity at a specific point in time.

Total Assets Are Included in the Statement of Owner's Equity